CVX Earnings: Chevron Q2 2024 profit drops despite higher revenues

Energy exploration company Chevron Corporation (NYSE: CVX) announced second-quarter 2024 financial results, reporting a decline in net profit and an increase in revenues. Net income attributable to Chevron Corporation dropped to $4.43 billion or $2.43 per share in the second quarter from $6.0 billion or $3.20 per share in the prior year period. Adjusted profit […]

August 2, 2024 1 min read

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Energy exploration company Chevron Corporation (NYSE: CVX) announced second-quarter 2024 financial results, reporting a decline in net profit and an increase in revenues. Net income attributable to Chevron Corporation dropped to $4.43 billion or $2.43 per share in the second quarter from $6.0 billion or $3.20 per share in the prior year period. Adjusted profit […]
· August 2, 2024

Energy exploration company Chevron Corporation (NYSE: CVX) announced second-quarter 2024 financial results, reporting a decline in net profit and an increase in revenues.

Chevron Q2 2024 earnings infographic

Net income attributable to Chevron Corporation dropped to $4.43 billion or $2.43 per share in the second quarter from $6.0 billion or $3.20 per share in the prior year period. Adjusted profit decreased 17% year-over-year to $2.55 per share.

Total revenues and other income were $51.2 billion in the June quarter, up 5% from $48.9 billion reported in the year-ago quarter.

“Despite recent operational downtime and softer margins, we remain poised to deliver significant long-term earnings and cash flow growth,” said Mike Wirth, Chevron’s chief executive officer.